The global ambulance services market size is set for rapid growth over the forecast period. In terms of revenue, the global ambulance market accounted for USD 42.4 Billion in 2022 and is expected to reach USD 89.2 Billion by 2030, growing at a CAGR of 9.76% during the forecast period.
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➤ The global market is expected to expand due to the alarming rate of accidents and road collisions.
The demand for medical care and ambulance services is on the rise as a result of the rapid increase in road collisions. According to a research study, road incidents result in the deaths of nearly 1.3 million individuals annually and the injuries of approximately 20-50 million. Road accidents are among the most significant causes of mortality worldwide. The Association for Safe International Road Travel reports that nearly 37,000 individuals perish annually in the United States as a result of road accidents, and nearly 2.35 million individuals are either disabled or injured. The ratio of road accidents and fatalities in India has increased by 2.5% and 4.6%, respectively, from 2014 to 2015.
➤ The market’s expansion may be impeded by the high cost of services and the disruption of the supply chain during emergency situations.
The demand for ambulance services can be restricted by the high cost of ambulance services, particularly for uninsured or underinsured patients, which is one of the primary constraints of the ambulance industry. Furthermore, the quality and availability of services may be impeded by a chronic shortage of qualified EMS personnel. Additionally, new ambulance service providers may encounter obstacles to entry due to government regulations and bureaucratic procedures.
➤ The market is presented with numerous opportunities due to the increasing geriatric population and the introduction of digital ambulances.
The development of new and innovative technologies that can enhance the quality and efficacy of ambulance services, such as telemedicine and smart ambulances, are some of the top opportunities for the global Ambulance Services Market. Furthermore, there is an increasing demand for community paramedicine programs, which offer primary and preventive healthcare services within the community. Opportunities for ambulance services to distinguish themselves by emphasizing patient outcomes and quality of care are also presented by the growing emphasis on patient-centered care and value-based healthcare models.
➤ The market is confronted with the challenge of intricate insurance and invoicing systems.
The ambulance industry faces significant challenges in maintaining a balance between cost-effectiveness and quality of care, a task that can be challenging to accomplish. Furthermore, the market is subject to stringent regulation, which can impede innovation and establish entry barriers. Lastly, ambulance services are required to navigate intricate insurance and invoicing systems, which can present administrative challenges. The market’s expansion may be hindered by these factors.
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The Global Ambulance Services Market is segmented based on product, application and region
Global Ambulance Services Market: Product Segment Analysis
● Emergency
● Non-Emergency
Global Ambulance Services Market: Application Segment Analysis
● Basic Life Support Ambulance Service
● Advanced Life Support Ambulance
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The global Ambulance Services market profiles key players such as:
● Babcock Scandinavian AirAmbulance
● Acadian Ambulance Service
● AMR
● Medline Industries Inc.
● Falck USA
● Lifeguard Ambulance
● Medivic Ambulance
● Medstar Ambulance
● Life Line Ambulance
● Priority Ambulance
● Dutch Health BV
● GVS
● Mobile Health Services
● AmeriCare Medical
● America Ambulance Services
● BVG India Limited
???? Recent Developments
• LifeLine Ambulance, a private ambulance service provider headquartered in Connecticut, was acquired by American Medical Response (AMR), one of the largest ambulance service providers in the United States, in 2021. The acquisition broadens AMR’s presence in the Northeastern United States. In an effort to enhance patient outcomes and care, numerous ambulance service providers have established partnerships with hospitals and healthcare organizations.
• Falck, a leading company that offers sustainable healthcare and dependable emergency response services, announced in August 2021 that it had signed a five-year contract with the Welsh Ambulance Service, a national ambulance service for Wales, to provide emergency ambulance services in the South East Wales region. The emergency medical services will be provided to more than 1.4 million residents, and the contract is estimated to be worth approximately £35 million.
➤ North America is expected to maintain the highest market share during the forecast period.
In 2022, North America dominated the market due to the increasing demand for advanced healthcare facilities and infrastructure, favorable pricing and reimbursement laws, and regulations in the healthcare sector. It is anticipated that the Asia Pacific region will experience the most significant development rate during the projected period. A rise in the number of road accidents, developments in healthcare facilities, and an immense unmet market potential are among the factors that are expected to drive the growth of the Asia Pacific market.
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